Latest news with #CommerceBank
Yahoo
10 hours ago
- Business
- Yahoo
Advisory group says no — at least for now — to another Wichita school bond
An advisory group told Wichita school leaders Wednesday that the district needs to clarify its message and rebuild trust in the community before seeking another bond issue. District leaders wanted the financial oversight committee to recommend putting a bond issue to voters by March 2026. But committee members rejected that plan, saying the state's largest district has not made a clear case for why it needs a bond or precisely how it would use the money to rebuild and repair schools. 'I hate to be the bearer of bad news, but everyone I talked to said, 'What are you doing?' And angrily,' said Thomas Rose, a senior vice president for Commerce Bank and a member of the oversight committee. 'I honestly do not believe a bond issue will pass, even in March.' The group opted to not recommend any bond proposal to the Wichita school board for its July 7 meeting. Members recommended that the district transfer all year-end cash savings into its capital budget to pay for building repairs and upgrades. Earlier this year, voters narrowly rejected a $450 million bond issue to rebuild and repair Wichita's school facilities. Since then, the Wichita district has been searching for a plan to address aging buildings and declining enrollment. District leaders formed the financial oversight committee in response to the failed bond issue. Last month, members were directed to gauge community sentiment on three alternative bond plans. All three proposals were similar to the original bond, and all were linked to the district's facility master plan, which the school board approved last summer. Addi Lowell, chief financial officer for Wichita schools, recommended a new bond election either this coming November or March of 2026. That's because Wichita property owners are currently paying for a 2008 bond issue, and 7.5 mills for the bond and interest will come off of tax bills next year. Any bond issue after next spring would require a tax increase rather than 'zero rate change,' a tax-neutral argument supporters used during the last campaign. 'Once we lower the mill, it is very difficult to get it back up. Increasing property taxes is unpopular,' Lowell told the committee. 'No one likes paying bills … whether you support public education or not.' Lowell and two other district administrators on the committee — Deputy Superintendent Gil Alvarez and Chief Communications Officer Rachel Bell — leaned toward the March 2026 date because they said November wouldn't give the district time to craft its message. 'We didn't want to do another sprint to the finish,' Alvarez said. 'We want to make sure that we are addressing any lack of trust or transparency and really get the word out.' Several committee members said voters lost trust in the district after the 2008 bond issue, when several projects were scaled back or ditched altogether because of reduced state and federal funding. Among them: two new comprehensive high schools and a K-8 school in Bel Aire. 'What I've heard from folks: Accountability and transparency were not completely addressed in the most recent bond issue,' said Lindsay Poe Rousseau, chief financial officer for Sedgwick County. 'Even the folks who voted yes, the question is: What has changed? Why do we think that people will change their vote now? And there's still a reluctance by them to vote for another bond issue right now.' Trish Hileman, a parent who serves on the oversight committee, surveyed more than 100 district residents and said trust and transparency were common themes. She said the vast majority of people she talked to also opposed special elections for bond issues, which traditionally have much lower turnout than primary or general elections. 'They were like, 'Just put it on the general or shut up. Stop manipulating us,'' Hileman said. 'People are tired of being strategized.' Hileman said voters also wonder whether the district could rethink its overall master plan and scale down the next bond issue. 'It's important that what we put out we can get a 'yes' to,' she said. 'And if that means we make it smaller so that we can get a 'yes' and build on that … People want to say yes, so let's give them a really easy, clear path to say yes.' Sarah Amador, a parent and education consultant, agreed the district should consider a scaled-down bond issue. After voters in Kansas City, Kan., rejected a $420 million bond in April 2024, the district came back with a $180 million bond, which voters approved in November. 'You have to make it as small as possible, and you have to show them, 'Say yes to me here, and here's your result,'' Amador said. 'If we cannot do that, you're going to jump off a cliff. And the reality is very dire.' Lowell, the district CFO, said the district learned from the February bond campaign and plans to change its tactics. 'There's no way we could have known the distrust and the things that people were going to bring up in the election without doing the election,' she said. 'So, we learned a lot, and our communication strategy will look completely different this time.' Bell, the communications director, said any new campaign would take time. 'We didn't know that there was so much distrust surrounding the 2000 and the 2008 bonds. So understanding what those concerns are, so that we can address them, just takes a little bit of time,' she said. When they meet in July, school board members could decide to pursue another bond election despite the committee's reluctance. But board president Diane Albert, who serves on the committee, said the group's message was clear. 'There are real facility needs within the district that we have to address. But when we are using taxpayer dollars, we have to address that trust and transparency issue first,' Albert said. 'I think we can build trust and transparency, but we need to use this committee to do that and not just immediately start talking about another bond issue.' This story was originally published by KMUW
Yahoo
09-05-2025
- Yahoo
Charges filed in Joplin bank robbery
A Joplin police detective acting on anonymous tips and other investigative work located a man who has been charged in the Saturday robbery of Commerce Bank, 1820 E. 20th St. David Andrew Cox, 29, of Joplin, is charged in Jasper County with first-degree robbery and armed criminal action. Judge Nicole Carlton set bond at $25,000 cash, and Cox was ordered placed on electronic monitoring under house arrest. He also was ordered not to have any contact with the robbery victims or enter financial institutions or businesses, possess guns or reside anywhere guns are kept. According to a probable-cause statement an investigator filed in court, a man in black clothing with a red-and-white face mask went into the bank about 11 a.m. and handed the tellers a note. A demand for money was made in the note and the robber indicated the money was needed for a sick daughter. The robber was wearing a one-strap backpack across his chest. Police stated that in a video recording of the robbery, a 30-round Glock magazine is shown sticking out of the bag. Tellers handed the man $200. The robber then said to them, "This was a bad idea," according to the sworn statement. The man then fled the bank toward a wooded area. Detective Jason Sanbothe wrote in the statement that he was able to identify the robber from both anonymous calls and distinctive tattoos on the robber's neck and hands. He obtained a phone number for Cox and while talking to him on the phone, stated that Cox had admitted to the robbery and said it was an awful idea. Cox then turned himself in to the detective. The detective requested an arrest warrant believing that Cox would not respond to a summons because "David fled the area after the robbery and had to be convinced to return," according to the court statement.
Business Wire
24-04-2025
- Business
- Business Wire
Commerce Bancshares, Inc. (NASDAQ: CBSH) Announces Annual Meeting of Shareholders Will Be Available by Webcast
ST. LOUIS--(BUSINESS WIRE)--As publicly announced, the annual meeting will be held on Friday, April 25, 2025 at 9:30 a.m. Central Time. Shareholders as of the close of business on the record date of February 26, 2025, and their legal proxies and other interested parties may attend the virtual annual meeting at Shareholders as of the close of business on the record date, who have a control number may attend the annual meeting virtually as a 'Shareholder' and may vote during, and participate in, the annual meeting by following the instructions available on the meeting website. For registered shareholders, the control number can be found on their proxy card or notice, or email they previously received. Only one shareholder per control number may access the meeting. Shareholders and other interested parties who do not have a control number may attend the virtual annual meeting as a 'Guest' but will not have the option to vote or ask questions during the meeting. About Commerce Bancshares, Inc. With $32.4 billion in assets 1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional bank holding company offering a full line of banking services through its subsidiaries, including payment solutions, investment management and securities brokerage. One of its subsidiaries, Commerce Bank, leverages 160 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. Beyond the Midwest, Commerce also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids and wealth offices in Dallas, Houston and Naples. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial and wealth offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at 1
Yahoo
31-01-2025
- Business
- Yahoo
Commerce Bancshares, Inc. Declares Cash Dividend on Common Stock
KANSAS CITY, Mo., January 31, 2025--(BUSINESS WIRE)--Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.275 per share on the Company's common stock, which compares to the prior dividend of $0.257 as adjusted for the 5% stock dividend that was paid on December 18, 2024. This represents an increase in the quarterly dividend per share of 7% and marks the 57th consecutive year that the Company has increased its regular cash dividend per share. The dividend is payable on March 25, 2025 to stockholders of record at the close of business on March 7, 2025. With $32.0 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional bank holding company offering a full line of banking services through its subsidiaries, including payment solutions, investment management and securities brokerage. One of its subsidiaries, Commerce Bank, leverages nearly 160 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. Beyond the Midwest, Commerce also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids and wealth offices in Dallas, Houston and Naples. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial and wealth offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at 1As of December 31, 2024 View source version on Contacts For more information, please contact: Matt Burkemper (314)
